- mineralized envelope expanded to 580 metres laterally by 1101 metres vertically -
F2-39 'Step-Out' Drilling -------------------------
On
Table 1: F2-39 assay results ----------------------------------------------------------------- Hole Depth to centre Gold Gold Number of intercept (m) (g/t) Metres (Oz/t) Feet ----------------------------------------------------------------- F2-39* 119 3151.1 0.5 91.91 1.6 ----------------------------------------------------------------- F2-39 678 35.3 1.0 1.03 3.3 ----------------------------------------------------------------- F2-39 715 3.5 4.9 0.10 16.1 ----------------------------------------------------------------- F2-39 751 3.9 11.0 0.11 36.1 ----------------------------------------------------------------- F2-39 772 3.5 4.0 0.10 13.1 ----------------------------------------------------------------- F2-39 783 2.8 5.0 0.08 16.4 ----------------------------------------------------------------- F2-39 812 6.8 3.0 0.20 9.8 ----------------------------------------------------------------- Incl. 812 9.1 2.0 0.26 6.6 ----------------------------------------------------------------- F2-39 815 6.3 1.0 0.18 3.3 ----------------------------------------------------------------- F2-39 822 6.5 6.0 0.19 19.7 ----------------------------------------------------------------- Incl. 821 8.0 3.0 0.23 9.8 ----------------------------------------------------------------- And 824 13.1 1.0 0.38 3.3 ----------------------------------------------------------------- F2-39 959 5.2 2.0 0.15 6.6 ----------------------------------------------------------------- Incl. 959 9.3 1.0 0.27 3.3 ----------------------------------------------------------------- * previously released December 11, 2008 Hole F2-39 is considered significant because: 1) The vertical extent of mineralization intersected by F2-39 is an impressive 921 feet (281 metres). The broad gold zones observed in the hole thus suggest the presence of a robust gold-mineralizing system. 2) The style of mineralization, host rocks and alteration observed in F2-39 display close similarities to the discovery holes at the core of the F2 Zone. Significant drilling to date in the core zone area has documented multiple gold zones extending to at least 3600 feet (1100 metres) below surface. 3) It extends the known F2 system by 220 metres to the southwest. As a result, as shown in Figure 1 attached to this release, significant gold mineralization is now documented over a length of 1902 feet (580 metres) and to a depth of 3612 feet (1101 metres). 4) In common with other F2 Zone intercepts reported to date, the broad gold zones in F2-39 are developed within an extensive Titan24 chargeability anomaly (see Figure 1).
"Hole F2-39 confirms that the F2 gold system envelope continues to grow and that it remains open in all directions. We are very encouraged that gold is present over a wide vertical range in F2-39 and that observed features show similarities to holes drilled in the core of the F2 Zone, where we have drilled 35 holes. With the aggressive 120,000 foot 2009 drill program now underway, we plan to focus on both the core F2 Zone as well as further testing the limits of this large gold system." stated
The Company wishes to also advise that it will be filing a new 43-101 technical report on www.sedar.com on or before
Permitting update -----------------
Subsequent to the previous news release, Rubicon has addressed additional elements related to certain permits as required by Government agencies. Provided there are no additional unforeseen requests from permitting agencies, the Company does not anticipate any adverse delay to the shaft dewatering schedule and anticipates dewatering to commence in early
Rubicon Minerals Corporation is a well-funded exploration company, focusing on exploring for gold in politically safe jurisdictions with high geological potential. Rubicon controls over 65,000 acres of prime exploration ground in the prolific
RUBICON MINERALS CORPORATION
"David W. Adamson"
President & CEO
Figure 1: Plan Map of F2 Gold Zone is available at
http://files.newswire.ca/617/Rubicon_Figure_1.pdf
Assaying and Qualified Person
-----------------------------
Assays were conducted on sawn NQ-sized half core sections. Further drilling is required before the true widths of reported intercepts can be determined. The saw blade is routinely cleaned between samples when visible gold is noted during logging and sampling of the drill core. Assays were conducted by SGS Minerals Services using standard fire assay on a 30 gram (1 assay ton) sample with a gravimetric finish procedure. Assays are uncut as is standard practice in
Forward Looking Statements --------------------------
This news release contains certain statements that may be deemed "forward-looking statements". All statements in this release, other than statements of historical fact, that address events or developments that the Company expects to occur, are forward looking statements. Forward looking statements are statements that are not historical facts and are generally, but not always, identified by the words "expects", "plans", "anticipates", "believes", "intends", "estimates", "projects", "potential" and similar expressions, or that events or conditions "will", "would", "may", "could" or "should" occur. Forward-looking statements in this document include statements regarding the timing and nature of future exploration programs which are, in part, dependent on receiving permits from various governmental agencies.
Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, investors are cautioned that any such statements are not guarantees of future performance and actual results or developments may differ materially from those projected in the forward-looking statements. Factors that could cause the actual results to differ materially from those in forward-looking statements include market prices, exploitation and exploration successes, continued availability of capital and financing, inability to obtain required shareholder or regulatory approvals, and general economic, market or business conditions. Forward looking statements are based on the beliefs, estimates and opinions of the Company's management on the date the statements are made. Except as required by applicable securities laws, the Company undertakes no obligation to update these forward-looking statements in the event that management's beliefs, estimates or opinions, or other factors, should change.
These statements are based on a number of assumptions, including, among others, assumptions regarding general business and economic conditions, and the ability of third-party service providers to deliver services in a timely manner. The foregoing list of assumptions is not exhaustive. Events or circumstances could cause results to differ materially.
The description of mineralized zones is not intended to imply that any economically mineable estimate of reserves or resources exists on the
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
SOURCE Rubicon Minerals Corporation